Description
Cite at least five (5) budgeting mistakes and their consequences.Write your answer on a yellow paper following the table below:
Explanation & Answer
Overstating projections
Ignoring immediate budgetary needs
Assuming existence of revenue is indicative of positive cash flow
Forgetting sales tax
Mismanaging the advertising timeline
Reference:
http://www.entrepreneur.com/article/49360
Consequences:
Mismatch between cash inflow and cash outflow
Arranging finance at higher rate of interest
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